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Author:Boni, L.
Leach, J. C.
Title:Supply contraction and trading protocol: an examination of recent changes in the U.S. treasury market
Journal:Journal of Money, Credit and Banking
2002 : AUG, VOL. 34:3, part 2, p. 740-762
Index terms:Trade policy
Government contracting
Public expenditure
Liquidity
USA
Language:eng
Abstract:The authors investigate liquidity and trader behaviour in the U.S. treasury market during recent supply contractions. They find that, even after substantial losses in their market share of coupon Treasury trading, brokers reporting voice-brokered trading through GovPX (a group of brokers) provide an important protocol for depth discovery.
SCIMA record nr: 239085
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